Regulation is one of the biggest topics in Bitcoin these days. Governments and regulators had for years ignored crypto and related industries. Perhaps they thought crypto would simply vanish into the ether as quickly as it had come. But the ongoing bull market has turned Bitcoin and other cryptocurrencies from fringe assets into a multi-trillion dollar asset class.
Regulators have chosen to no longer ignore crypto and this year has provided ample evidence of their about-face. China has been one of the largest antagonists towards the space, banning Bitcoin mining outright earlier this year, which was a significant contributor to the long-term dip out of which the market is still digging itself. Not to be left in the dust by its rival in the East, the United States has shown quite an adversarial streak as well, with federal regulators threatening lawsuits against the cryptocurrency exchange Coinbase, and state regulators issuing injunctions against the crypto bank BlockFi. However, perhaps no company has seen more aggression from regulators around the world than Binance, the world’s largest cryptocurrency exchange.